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Retail Round-Up May 27th

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The Co-operative Group has relaunched its own-label premium range Truly Irresistible to cash in on shoppers choosing to dine at home. As well as getting a new look, 50 new products have been added to the 400-strong range, including pancetta and a pea shoot & mint pesto tart. The launch is being supported by a 25% off deal until 14 June, as well as TV ads featuring the ‘Co-op family’ eating a three-course meal of Truly Irresistible products.

Mobile top-up decline hits PayPoint sales

PayPoint has posted a drop in full-year sales as mobile top-ups continue to fall. The e-payment provider said sales fell 1.7% to £193.2m in the year to 27 March. Mobile top-ups in the UK, Ireland and Romania were down 10% overall, against an 11% decline this time last year.

Far-reaching Diageo shake-up prompts fears of job cuts

Diageo has signalled plans for a far-reaching shake-up of its international business alongside the exit of two senior executives. Stuart Fletcher, president of Diageo International, and chief customer officer Ron Anderson are both to leave the Guinness brewer, which aims to crank up its focus on emerging markets. The company’s international arm will be split into two “autonomous regions”, Latin America & Caribbean and Africa, while the central sales and commercial functions will be subsumed into the regional businesses. Randy Millian and Nick Blazquez will continue to lead the Latin American and African arms respectively.

Riddiford drafted in at La Senza

David Riddiford, the former chief executive of Arnotts and buying and merchandise director of Selfridges, has been drafted in to advise lingerie chain La Senza on an interim basis. Riddiford said he was helping the business to return to its roots as first and foremost a fashion lingerie chain.

Boots chief Gourlay champions high street improvement drive

Alliance Boots health and beauty chief executive, Alex Gourlay, has thrown his weight behind a blueprint to breathe new life into town centres. Gourlay, who is responsible for 2,500 stores in the UK and a consistent champion of the high street, was speaking in Maidstone on Wednesday at a Business in the Community (BITC) event focused on reviving embattled high streets.

Consumer confidence bounces back

Consumer confidence has bounced back in May, marking its second largest jump ever recorded. The GfK NOP Consumer Confidence index score increased ten points to -21, just three points lower than this time last year. The index takes five measures into account, and asks about personal financial situations over the last and coming 12 months, the general economic situation over the same period and whether it is the right time to make major purchases or save money. The index increased across all measures in May, having interviewed more than 2000 adults in the first two weeks in May on behalf of the European Commission.

Burberry results driven by brand vision

Burberry has posted a pre-tax profit jump of 40% for its full year and says its “brand vision and values” helped drive the growth. The company made an adjusted pre-tax profit of £298m and revenue rose 27% to £1.5 bn for the year ending 31 March. The company saw double digit growth in retail and wholesale in all regions and product categories. Retail revenue jumped 36% to account for 64% of sales. Burberry sees future growth in China, Latin American and the Middle East.

Tesco to launch ad-funded TV show

Tesco is preparing to launch an ad-funded TV show under its Real Food magazine brand as part of its commitment to helping customers eat healthily. The ad-funded TV initiative is part of a broader Tesco Real Food Challenge campaign, which aims to find Britain’s best cook through a recipe competition. The supermarket claims it is its biggest social media activity ever and involves eight celebrity ambassadors including former England rugby player Matt Dawson and Lorraine Kelly on Twitter.